SUI Price Prediction: Will the $0.80 Support Absorb the Increasing Selling Pressure to Prolong the Bull Run?

As the crypto market crash takes a break, the SUI price struggles to find a solid support level. Standing at a shaky neckline, the buyers attempt to avoid a bearish breakout in SUI.

.80 Support Absorb the Increasing Selling Pressure to Prolong the Bull Run?" >

The SUI token price faces increasing selling pressure at a crucial support level as the bulls attempt to prolong the bull run and propel the token back towards the $1 mark.

Technical analysis suggests that the bulls face an uphill battle with multiple resistances and a weaker double top pattern, indicating a possible bearish breakdown.

Despite the bull attempt, the 4-hour RSI line and 4-hour MACD indicator both show a bearish hidden divergence from the two bottom formations at $0.79. This divergence signals decreasing momentum and suggests an increased possibility of a bearish breakdown.

In case of a breakdown, the next support levels are $0.72 and $0.48. Minor support is also present near the two psychological levels at $0.60 and $0.50. Based on the 4-hour Fibonacci levels, the 23.60% and 38.20% levels at $0.9395 and $1 can act as more immediate resistances.

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